Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP decreased its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 666,200 shares of the company's stock after selling 64,904 shares during the quarter. Mirum Pharmaceuticals comprises about 2.7% of Avidity Partners Management LP's portfolio, making the stock its 13th biggest holding. Avidity Partners Management LP owned approximately 1.39% of Mirum Pharmaceuticals worth $27,547,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Mirum Pharmaceuticals during the 4th quarter valued at about $10,611,000. Marshall Wace LLP grew its position in shares of Mirum Pharmaceuticals by 641.6% in the fourth quarter. Marshall Wace LLP now owns 175,913 shares of the company's stock valued at $7,274,000 after purchasing an additional 152,191 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Mirum Pharmaceuticals by 10.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock valued at $58,831,000 after purchasing an additional 138,623 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 162.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 176,960 shares of the company's stock valued at $7,317,000 after purchasing an additional 109,585 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Mirum Pharmaceuticals by 15.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 578,024 shares of the company's stock worth $23,901,000 after buying an additional 78,708 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of "Buy" and an average target price of $58.20.

Mirum Pharmaceuticals Trading Up 0.5 %

MIRM stock traded up $0.22 during mid-day trading on Wednesday, hitting $41.22. 405,442 shares of the company were exchanged, compared to its average volume of 521,808. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.83 and a 12-month high of $54.23. The firm has a market capitalization of $2.04 billion, a P/E ratio of -20.41 and a beta of 0.95. The business has a fifty day simple moving average of $42.98 and a 200-day simple moving average of $44.17. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. During the same quarter in the previous year, the company posted ($0.54) earnings per share. Mirum Pharmaceuticals's quarterly revenue was up 61.2% on a year-over-year basis. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the transaction, the senior vice president now directly owns 4,841 shares of the company's stock, valued at $214,698.35. The trade was a 92.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick J. Heron purchased 1,335 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the purchase, the director now directly owns 163,643 shares of the company's stock, valued at approximately $7,457,211.51. This trade represents a 0.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 92,764 shares of company stock worth $4,109,161 over the last ninety days. Company insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.